G.Research restated their buy rating on shares of Albemarle (NYSE:ALB) in a report issued on Thursday, Zacks.com reports. G.Research also issued estimates for Albemarle’s FY2021 earnings at $7.10 EPS, FY2022 earnings at $8.05 EPS and FY2023 earnings at $8.75 EPS.
Other equities research analysts have also recently issued research reports about the stock. Loop Capital lowered their price target on shares of Albemarle to $108.00 and set a buy rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada lowered their price target on shares of Albemarle to $83.00 and set an outperform rating on the stock in a report on Wednesday, August 14th. Vertical Group lowered their price target on shares of Albemarle from $58.50 to $39.50 in a report on Wednesday, August 14th. TheStreet lowered shares of Albemarle from a b- rating to a c+ rating in a research note on Monday, May 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Albemarle from $114.00 to $90.00 and set a buy rating for the company in a research note on Monday, May 20th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $92.20.
NYSE:ALB opened at $69.28 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $7.34 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The firm’s 50 day moving average is $65.99 and its 200 day moving average is $73.71. Albemarle has a 12 month low of $58.63 and a 12 month high of $108.74.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.14. The company had revenue of $885.05 million for the quarter, compared to analysts’ expectations of $893.50 million. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. Albemarle’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. Research analysts predict that Albemarle will post 6.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.47 dividend on an annualized basis and a yield of 2.12%. Albemarle’s dividend payout ratio is 26.82%.
In other Albemarle news, insider Eric Norris acquired 3,090 shares of Albemarle stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $64.66 per share, for a total transaction of $199,799.40. Following the purchase, the insider now owns 164 shares of the company’s stock, valued at $10,604.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new position in shares of Albemarle during the 1st quarter valued at $25,000. Gemmer Asset Management LLC grew its position in shares of Albemarle by 71.1% during the 2nd quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. NEXT Financial Group Inc grew its position in shares of Albemarle by 71.1% during the 2nd quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 180 shares in the last quarter. Exane Derivatives purchased a new position in shares of Albemarle during the 2nd quarter valued at $32,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Albemarle during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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